Dear Ibex Community,

This proposal, IIP-05, requests your approval to strategically burn a portion of our IBEX reserve, thereby decreasing both the fully diluted and circulating supply of the token. If approved, this action aims to send a positive signal to market participants, underscoring our commitment to ensuring that the IBEX circulating supply will not face dilution in the coming years.

In short: any IBEX bought was purchased on the market; any IBEX earned through staking comes from protocol returns.

Proposed Action:

Burn either 5 million, 10 million, or 15 million IBEX tokens, as determined by community vote, to achieve the aforementioned goals.

Motivation:

This IIP is motivated by the need to align with the team's overarching goal of Impermax becoming a self-sustainable protocol by 2025. The team believes that the current IBEX holdings within the multi-signature wallet (approximately 14 million tokens designated for liquidity, bridging, and seeding purposes - https://debank.com/profile/0xc28f68cd2df0fcc50f0058fb20abbc77bec8bdc6) are more than sufficient for future needs. We aim to achieve a more scarce token supply for IBEX – a core component to drive long term value for holders.

Specifications:

If this proposal is approved:

The quantity of IBEX tokens selected by the community vote will be burned.

The resulting burn will be transparently executed and verifiable through a publicly identifiable burn address.

We believe this strategic reduction in the token float, combined with enhanced clarity regarding our tokenomics, will significantly benefit the long-term health, stability, and value of the Impermax protocol.

We believe burning 15 M is optimal and sustainable.